The jobs report crushed expectations, and markets are moving.
Yields spiked, which means bonds are selling off. The 10-year Treasury yield jumped from 2.241% before the report to 2.327% just after its unveiling.
Gold is tumbling, falling from about $US1,205 an ounce to about $US1,190/oz.
US stock market futures aren’t doing much. Dow futures are up 38 points, and S&P 500 futures are up 2 points, which is basically where they were ahead of the report.
Nonfarm payrolls jumped by 321,000 in November, which was much stronger than the 225,000 expected by economists. Even better, October’s number was revised up to 243,000 from an earlier estimate of 214,000.
Here’s a look at gold.
Here are 10-year Treasury futures falling.
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